Member Info for Bfdinvestor

Very true lilpeep and he can't even read an RNS!

And that is just your usual make believe joebloggs

Please show one commercial invoice, ever, which doesn't come with payment terms attached

Until you can do that, you an run down this particular rat hole on your own

Previous ten days

Joebloggs what point are you trying to prove.

The invoice is issued when the ship is loaded, the price being based on the previous days average spod price.

So the invoice is issued when the ship is loadedy with payment terms most likely attached to the invoice.

Exactly as I have been posting

What does this post of yours have to do with the OTA joebloggs lol

JoeBloggs28

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RE: KOD`s cash not on the line over possible arbitration payments?Today 09:59

Mac stop talking rubbish, this is the 21st century. Everything is electronic now including freight.

This conversation has never been about the OTA RNS joebloggs

It's about the difference in time between shipping and payment. And about why badomen has sought to change my original post about payment into shipping

If you have nothing of value to add, then simply don't try to contribute

Where did I ever say it was from the OTA joebloggs?

As I've said multiple times, there is an invoicing and payment process, I've never once said it was outlined in the OTA RNS.

Maybe you could give a single example where an invoice doesn't come with attached payment terms. They are never instantaneous

Badomen as posted previously I have no interest in going round in circles with you

I'm not the only person who has explained to you that payment isn't instantaneous as you keep insisting. As a last point, quote direct from RNS below.

A second shipment of 20,000 DMT spodumene concentrate is currently being loaded at the Port of San Pedro, Côte D'Ivoire, with the vessel expected to commence shipment to Hainan following completion of loading. LMLB will issue an invoice for 95% of the value of the cargo with the price to be calculated using a 10-day average prior to the vessel being loaded

Elcobbledore I think the issue with the OTA RNS is that Kodal's intentions were too good.

They should simply have stated the term of the agreement was four years and payment would be at market rate based on ten day average price with a non specified floor price and it was take or pay.

Then there would have been none of this conjecture

Because you are once again making an assumption that it was paid promptly badomen. And that assumption is to deflect from changing my original point about payment into shipping.

You ignore the RNS that specifically states that there is an invoicing and payment process to go through before payment is received. And international finance systems aren't exactly known for their rapid transfer of money

Elcobbledore is correct, this debate is circular. You have your view, I have mine.

You changed the topic of the debate for no apparent reason other than to portray a negative scenario

So that about sums it up I think

Kat why do you think the price yesterday was "inflated"

Why do you never criticise Chaebol's multiple posts encouraging others to sell at a "depressed" price

Badomen you are getting more than a little stupid now.

You are the one ignoring RNS information. RNS stated shipment on 29th November. RNS informed us payment received more than two weeks later. RNS informed us there is an invoice and payment process to follow

As I've stated several times, the OTA RNS is a summary of what will be an immensely complex legal document. It needs to be taken in that way.

All that interests me is all the product has a guaranteed buyer for four years at market rates.

Perhaps if you are so hung up on the detail, perhaps you should contact Kodal and inform them that you believe they have breached market regs

Notice how nobody mentions spod price when it is down? I wonder why????

Isnt this mentioning spod joebloggs lol

Are they shipping from Abidjan Badomen?

Maybe flip the question to Joe Bloggs

Why does he only mention the price of spod when it is down

The OTA RNS is a summary of a complex document that is open to interpretation

For instance 22m turned into 27m for the first payment. That isn't per the OTA RNS

Stick to known facts badomen

Another fairytale you can't substantiate Badomen

Stick to the facts.

Why would the government care at the moment, they don't yet receive any money

The other issue you ignore is that you don't know the exact terms of the OTA badomen. Yet you refer to it in exact terms when it suits you. And not when it doesn't.

For instance the RNS outlining the OTA stated 95% initial payment, yet that isn't what happened

You are making up another fairytale that you can't substantiate.

The only facts are as I outlined them. The ship departed on 29 November and we were notified of payment on the 17th December. In between there was an invoicing and payment process

The shipment went on the 29th November

The RNS stating payment received was released on the 17th December. This was a significant milestone so I'd expect it to be released as soon as available

RNS also stated that LMLB had submitted an invoice. So payment isnt immediate as you make out.

Only that isn't the way it worked on the first shipment is it Badomen

So it isn't that simple.

There is an invoicing and payment process to go through

Which is what happened with the first shipment.